Loss Mitigation Specialist Job in Falmouth, Maine US
Loss Mitigation Specialist
Initiates processing and resolution of bankruptcy, foreclosure and workout activities for assigned real estate loan, focusing on homeownership counseling activities and negotiating workout solutions and ensuring prompt resolution of legal matters so that workout and other loss mitigation activities can proceed. Coordinates subsequent asset sales and other collection and recovery activities to secure maximum payback for Company owned property. Submits requires documentation, researches accounts and coordinates with attorneys, trustees, debtors and others to maximize recovery. Prepares and files required claims in multiple state jurisdictions and coordinates with personal representatives and attorneys representing estates to maximize recoveries. Workout-Performs a variety of activities related to reducing potential losses from problem consumer loans and performs a variety of workout activities. Coordinates customer voluntary surrender of asset, short sales and other methods to secure maximum value for the Company. Ensures that own work, as well as work of any employees supervised, is in compliance with applicable laws, regulations and guidelines, as detailed in policies located on Company intranet policies include but are not limited to Fair Lending, Know Your Customer, Back Secrecy Act and other applicable anti-money-laundering policies.
Performs a variety of activities related to reducing potential losses from problem accounts. Specializes in one or more of the following areas: Loss Mitigation, bankruptcy,Probate, Workout.· Area s assigned are of moderate size and complexity
Qualifications--2 year degree or equivalent experience
· 5 years related experience required
· Proven knowledge and experience in effective collection regulations, techniques and practices.
· Detailed knowledge of loan agreements and security agreements.
· Ability to understand and apply bankruptcy law, principles and practice related to real estate transactions
· Working knowledge of real estate investor and insurer guidelines
· Knowledge of foreclosure procedures and legal and regulatory guidelines, including mobile homes and agency loans VA, HUD and others
· Knowledge of legal regulations relating to real estate resale after foreclosure
· Communication skills, both verbal and written
· PC skills
· Bankruptcy, Probate and Workout
· Detailed knowledge of bankruptcy law,including Chapters 13 and 7, probate and/or workout law
· Knowledge of bankruptcy legal procedures,including Relief from Stay, property
abandonment, Proofs of Claim, conversion of Chapter 13 to 7 and Chapter 13 repayment plans
· Knowledge of workout techniques, including short selling and voluntary surrender
· Knowledge of specific regulations in various states in which Company does business
TD Bank is an Equal Opportunity Employer. Drug Test and Background Screening is Required.